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Mandarin Oriental announces development of a new luxury hotel in Prague
Tuesday, April 04, 2006
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Mandarin Oriental Hotel Group announced in December 2004 that it will manage a new, luxurious hotel currently under development in the historic center of Prague in the Czech Republic. The project provides the Group with a unique opportunity to establish its luxury brand in one of Europe’s foremost travel destinations.

Opening in fall 2006, Mandarin Oriental, Prague has been designed as an intimate, luxurious hotel featuring a contemporary, yet elegant interior style, with exacting attention to detail, reflective of the Group’s oriental heritage.

“We are delighted at the prospect of opening a new hotel in the lively and sophisticated historic city of Prague and look forward to bringing Mandarin Oriental’s renowned levels of hospitality to this exciting project. The pre-eminence of the site and the vibrancy of the surrounding neighborhood bode well for success. This new development also represents another significant step for Mandarin Oriental in leveraging our brand further in important destinations around the world.” said Mandarin Oriental Hotel Group’s Chief Executive, Edouard Ettedgui.


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How do you expect luxury travel to perform in times of economic downturn?.

Providers of luxury travel products are going to witness shorter stays by their customers and an increase in seasonality.

People are going to become more value conscious and will opt for those luxury offers that represent a convincing value-for-money proposition. Providers of overpriced services are those to feel the pinch.

Both people paying for their personal trips and firms paying for their top executives' business trips will cut back on travel expenses, thus affecting all luxury travel providers.

It is going to be business as usual. Those people opting for high-end travel products are not going to be affected by the looming crisis.

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